What Does Web Service Mean?

A Web service, in the context of .NET, is a component that resides on a Web server and provides information and services to other network applications using standard Web protocols such as HTTP and Simple Object Access Protocol (SOAP).

Techopedia Explains Web Service

The main advantage of a Web service is that its consumers can use the service without knowing about the details of its implementation, such as the hardware platform, programming language, object model, etc. Web service provides a loose coupling between heterogeneous systems with the help of XML messages, provide interoperability.